President John Dramani Mahama has directed the Minister of Finance to allocate GH¢1 billion in the 2027 Budget as the government’s contribution to a GH¢3 billion National Housing Fund (NHF).
The money, he said, would be used on a revolving basis to finance housing projects and expand access to affordable housing.
President Mahama disclosed this on Wednesday, October 7, 2026, when he opened the maiden National Conference on Housing Finance in Accra.
“I have directed the Minister of Finance to allocate one billion Ghana cedis in next year’s budget as government’s contribution to the three billion revolving fund for the National Housing Fund,” he said.
President Mahama said Ghana’s housing challenge was not only about the number of houses available, but also the ability of households to secure financing on terms they could afford.
He cited the difficulties faced by traders, artisans, farmers, transport operators and other self-employed workers who might have regular incomes but lack payslips or conventional banking records required by mortgage providers.
He urged financial institutions to develop alternative ways of assessing repayment capacity, including savings histories and verifiable business cash flows.
According to figures presented at the conference, Ghana has a housing deficit of 1.8 million units.
The President said the scale of the deficit required an increase in the number of people becoming homeowners each year.
The NHF’s Mortgage Scheme currently offers cedi-denominated mortgages at 8.4 per cent, down from 13.5 per cent, while developer financing under the scheme stands at 10.4 per cent.
